McKesson price target raised to $900 from $820 at Jefferies

Jefferies raised the firm’s price target on McKesson (MCK) to $900 from $820 and keeps a Buy rating on the shares. The firm remains bullish on the stock beyond the company’s investor day, pointing to the increase in the management’s long-term EPS growth outlook – now at 13%-16% – and the simplification in its reporting segments that provides enhanced visibility into McKesson’s business lines, the analyst tells investors in a research note. Jefferies adds that it sees the stock as “compelling” at its current forward earnings multiple of 17.6-times.